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Progressive jackpots are a type of jackpot that is shared among multiple games or even across different casinos. The prize fund grows with each bet placed on the connected games until someone wins it. This feature has become increasingly popular in recent years due to its massive potential payouts.
History of Progressive Jackpots
The concept of progressive jackpots dates back to the 1980s when IGT (International Game Technology) developed the first progressive slot machine, CashSplash. The game allowed royalfishing-site.com a portion of each bet to be added to the jackpot pool, creating an ever-growing prize fund. Since then, many other casinos and game developers have followed suit.
One notable example is the Megabucks game, introduced by IGT in 1996. It was the first progressive slot machine with a wide range of participating casinos across Las Vegas. The game quickly gained popularity due to its massive potential payouts, which often exceeded $10 million. Today, there are many other progressive games available, including slots like Wheel of Fortune and Monopoly.
The Mechanics Behind Progressive Jackpots
Progressive jackpots work by pooling a small portion of each bet from participating games. This is usually done through a network or server that connects all the machines together. Each time someone places a bet on one of these games, a small percentage goes into the jackpot fund.
The progressive jackpot grows with every bet until it’s won. Some jackpots are also "linked," meaning they share funds across multiple casinos and even online platforms. This creates massive prizes that can easily exceed $10 million.
Types of Progressive Jackpots
There are several types of progressive jackpots, including:
- Local Progressives : These involve a single machine or group of machines in one casino.
- Wide-Area Progressives (WAPs) : This type connects multiple machines across a single casino to create a larger jackpot pool.
- Networked Progressives : These connect games across different casinos and online platforms, creating massive jackpots.